We are seeking a highly organized and detail-oriented Accounts Receivable and Collections Specialist to join our Revenue Team. This individual will be responsible for managing accounts receivable, ensuring the timely collection of outstanding payments, and maintaining accurate financial records. The ideal candidate will possess strong communication skills, problem-solving abilities, and a keen diligence to effectively manage the collection process.
Key Responsibilities:
Review and process customer invoices/sales orders with contracts, ensuring they are accurate. Uploading invoices on customer’s portals and share invoices when requested.
Maintain a record of outstanding invoices and follow up on overdue accounts.
Post payments to customer accounts and reconcile discrepancies.
Monitor and manage daily cash receipts and ensure proper allocation to accounts.
2.Collections:
Initiate contact with customers to follow up on overdue invoices and resolve payment issues.
Document all communication with customers regarding payment statuses.
Escalate problematic accounts to manager, when necessary.
Maintain relationships with customers while ensuring timely payment of outstanding balances.
Maintain receipt details for cash applications for every customer and share it with Senior Accountant for recording.
Prepare and generate monthly aging reports to track outstanding balances.
Provide regular updates to manager on accounts receivable status and collection progress.
Maintain and update customer account information in the financial system.
Assist with Month/Quarter/Year End audits (Assess over 90 days and reserve bad debt allowances)
Investigate and resolve discrepancies or disputes related to customer billing and payment.
Collaborate with sales, customer service, and other internal teams to ensure accurate billing and customer satisfaction.
Identify areas for improvement in the accounts receivable and collections processes.
Suggest and implement process changes to increase efficiency, reduce overdue balances, and improve cash flow.
Provide excellent customer service by addressing customer inquiries regarding their accounts in a professional and timely manner.
Foster positive customer relationships to encourage prompt payment.
Ensure compliance with company policies and procedures regarding billing, collections, and customer credit.
Stay updated on industry best practices and legal requirements related to collections and financial operations.
Qualifications:
Education: Bachelor’s degree in accounting, finance, or a related field preferred, semi-qualified CA or MBA (Finance) is plus.
Experience:
Proven experience (3-5 years) in accounts receivable, collections, or a similar role.
Experience in working with US and Europe set up.
Experience with accounting software preferably NetSuite and MS Office.
Strong understanding of financial statements and aging reports.
Skills and Competencies:
Excellent communication and analytical skills.
Eye for detail and accuracy.
Ability to manage time efficiently and prioritize tasks.
Strong critical thinking skills.
Ability to work independently and as part of a team.
Work Environment:
Office-based or hybrid work options available.
Flexible office hours and need to work 2-3 hours late evening.
What We Do
Model N enables life sciences and high tech companies to drive growth and market share, minimizing revenue leakage throughout the revenue lifecycle. With deep industry expertise and solutions purpose-built for these industries, Model N delivers comprehensive visibility, insight and control over the complexities of commercial operations and compliance. Our integrated cloud solution is proven to automate pricing, incentive and contract decisions to scale business profitably and grow revenue. Model N is trusted across more than 120 countries by the world’s leading pharmaceutical, medical technology, semiconductor, and high tech companies, including Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom and Microchip Technology. For more information, visit www.modeln.com.
